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Can you file bankruptcy on pay day loans?

Ralph Lopez

in Student Loans

1 answer

1 answer

Victoria Fowler on January 20, 2019

You have to write a check to get the loan. If your check does not clear that you can get to pass a check. It is probably not a good idea to put in your bankruptcy. Is not like a regular loan company.. ans .You have no choice of what to include in your BK filing...everything in your finances MUST be included...debts and assets.. They are all then given certain priorities and some may be excluded by relief...BY THE COURT...not to take that decision.. Most of all of the debts incurreds a short while before Bk are exluded from being relieved...the idea is that they were made in antici[ation of BK...and that would be abusive.. Pay dfay type loans are made in such a way that actually renews itself every 30 days or so...that is how they are going to charge so much fees (instead of interest) and why they are considered such bad ideas...and abusive themselves.. Becuaseof this, if it is presented well, and especially if the loan originates a while and continued renewing...many Judges try to find a way to include them for download.

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